Rainbow Coral (RBCC) 10-Q/A 21 Feb 14 2014 Q3 Quarterly report (amended) Financial data

Document_and_Entity_Informatio

Document and Entity Information	9 Months Ended
	Dec. 31, 2013	Feb. 19, 2014
Document and Entity Information [Abstract]	'	'
Document Type	'10-Q	'
Amendment Flag	'false	'
Document Period End Date	31-Dec-13	'
Entity Registrant Name	'RAINBOW CORAL CORP.	'
Entity Central Index Key	'0001499790	'
Current Fiscal Year End Date	'--03-31	'
Document Fiscal Period Focus	'Q3	'
Document Fiscal Year Focus	'2014	'
Entity Filer Category	'Smaller Reporting Company	'
Entity Units Outstanding	'	20,251,900

CONSOLIDATED_BALANCE_SHEETS

CONSOLIDATED BALANCE SHEETS (USD $)	Dec. 31, 2013	Mar. 31, 2013
CURRENT ASSETS	'	'
Cash and cash equivalents	$107,848	$84,592
Prepaid expenses	350	350
Inventory	29,020	29,020
Total current assets	137,218	113,962
Fixed assets, net of accumulated depreciation of $4,627 and $1,760, respectively	2,561	5,428
Goodwill	27,868	27,868
TOTAL ASSETS	167,647	147,258
CURRENT LIABILITIES	'	'
Accounts payable and accrued liabilities	163,363	117,351
Current portion of convertible notes payable, net of discount of $0 and $3,491, respectively	'	1,024
Related party advances payable	129,951	94,881
Advances payable	47,050	133,455
Total current liabilities	340,364	346,711
Long-term note payable	50,000	'
Convertible notes payable, net of discount of $398,661 and $193,607, respectively	18,024	24,576
Accrued interest payable	15,358	10,929
TOTAL LIABILITIES	423,746	382,216
Commitments and contingencies	'	'
STOCKHOLDERS' DEFICIT	'	'
Preferred Stock, $0.0001 par value; 10,000,000 shares authorized; no shares issued and outstanding at December 31, 2013 and March 31, 2013, respectively	'	'
Common Stock, $0.0001 par value; 250,000,000 shares authorized; 17,851,900 shares and 12,519,828 shares issued and outstanding at December 31, 2013 and March 31, 2013, respectively	1,785	1,252
Additional paid-in capital	2,261,465	1,599,204
Accumulated deficit	-2,519,349	-1,835,414
Total stockholders' deficit	-256,099	-234,958
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT	$167,647	$147,258

CONSOLIDATED_BALANCE_SHEETS_Pa

CONSOLIDATED BALANCE SHEETS (Parentheticals) (USD $)	Dec. 31, 2013	Mar. 31, 2013
CONSOLIDATED BALANCE SHEETS [Abstract]	'	'
Accumulated depreciation	$4,627	$1,760
Current portion of convertible notes payable discount	'	3,491
Noncurrent convertible notes payable discount	$398,661	$193,607
Preferred Stock, par value per share	$0.00	$0.00
Preferred Stock, shares authorized	10,000,000	10,000,000
Preferred Stock, shares issued	0	0
Preferred Stock, shares outstanding	0	0
Common Stock, par value per share	$0.00	$0.00
Common Stock, shares authorized	250,000,000	250,000,000
Common Stock, shares issued	17,851,900	12,519,828
Common Stock, shares outstanding	17,851,900	12,519,828

CONSOLIDATED_STATEMENTS_OF_OPE

CONSOLIDATED STATEMENTS OF OPERATIONS (USD $)	3 Months Ended		9 Months Ended
	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2013	Dec. 31, 2012
CONSOLIDATED STATEMENTS OF OPERATIONS [Abstract]	'	'	'	'
REVENUE	$25,491	$24,852	$84,044	$76,808
COST OF GOODS SOLD	22,630	24,912	57,506	52,569
GROSS PROFIT	2,861	-60	26,538	24,239
OPERATING EXPENSES	'	'	'	'
General and administrative expenses	165,140	63,689	476,084	813,391
LOSS FROM OPERATIONS	-162,279	-63,749	-449,546	-789,152
INTEREST EXPENSE	-53,710	-118,601	-234,389	-205,928
NET LOSS	($215,989)	($182,350)	($683,935)	($995,080)
NET LOSS PER COMMON SHARE - Basic and diluted	($0.01)	($0.02)	($0.04)	($0.18)
WEIGHTED AVERAGE NUMBER OF COMMON SHARES OUTSTANDING	17,656,269	9,442,595	16,238,095	5,392,082

CONSOLIDATED_STATEMENT_OF_STOC

CONSOLIDATED STATEMENT OF STOCKHOLDERS' DEFICIT (USD $)	Total	Common Stock [Member]	Additional Paid-In Capital [Member]	Accumulated Deficit [Member]
BALANCE at Mar. 31, 2013	($234,958)	$1,252	$1,599,204	($1,835,414)
BALANCE, SHARES at Mar. 31, 2013	12,519,828	12,519,828	'	'
Shares issued for conversion of notes payable	246,109	533	245,576	'
Shares issued for conversion of notes payable, shares	5,332,072	5,332,072	'	'
Discount on issuance of convertible notes payable	416,685	'	416,685	'
Net loss	-683,935	'	'	-683,935
BALANCE at Dec. 31, 2013	($256,099)	$1,785	$2,261,465	($2,519,349)
BALANCE, SHARES at Dec. 31, 2013	17,851,900	17,851,900	'	'

CONSOLIDATED_STATEMENTS_OF_CAS

CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)	9 Months Ended
	Dec. 31, 2013	Dec. 31, 2012
CASH FLOWS FROM OPERATING ACTIVITIES:	'	'
Net loss	($683,935)	($995,080)
Adjustments to reconcile net loss to net cash used in operating activities:	'	'
Stock-based compensation	'	542,000
Amortization of discount on convertible notes payable	215,122	191,747
Depreciation	2,867	1,438
Changes in operating assets and liabilities:	'	'
Inventory	'	-767
Accounts payable and accrued liabilities	52,929	1,622
Accrued interest payable	20,923	13,970
NET CASH USED IN OPERATING ACTIVITIES	-392,094	-245,070
CASH FLOWS FROM INVESTING ACTIVITIES	'	'
Purchase of fixed assets	'	-728
NET CASH USED IN INVESTING ACTIVITIES	'	-728
CASH FLOWS FROM FINANCING ACTIVITIES:	'	'
Proceeds from notes payable	50,000	'
Proceeds from advances	330,280	219,108
Proceeds from related party advances	36,756	43,336
Repayments of related party advances	-1,686	-19,790
NET CASH PROVIDED BY FINANCING ACTIVITIES	415,350	242,654
NET INCREASE (DECREASE) IN CASH	23,256	-3,144
CASH, at the beginning of the period	84,592	20,219
CASH, at the end of the period	107,848	17,075
Supplemental Disclosures of Cash Flow Information:	'	'
Interest	'	'
Taxes	'	'
Noncash investing and financing transactions:	'	'
Conversion of advances into convertible note payable	416,685	300,526
Beneficial conversion on convertible note payable	416,685	300,526
Issuance of common stock for convertible notes payable and interest	$246,109	$175,136

GENERAL_ORGANIZATION_AND_BUSIN

GENERAL ORGANIZATION AND BUSINESS	9 Months Ended
	Dec. 31, 2013
GENERAL ORGANIZATION AND BUSINESS [Abstract]	'
GENERAL ORGANIZATION AND BUSINESS	'
	NOTE 1. GENERAL ORGANIZATION AND BUSINESS
	RAINBOW CORAL CORP. (the "Company"), a Florida corporation, was formed to build a coral farm facility to develop and propagate (or grow) live coral, independent of the oceans, as a future farm reserve against the decline of natural wild reefs. We intend to grow, harvest and distribute a variety of sizes of hard and soft  captive-bred corals. The coral is attractive to many consumers who can maintain them in a healthy ecosystem aquarium. We believe that coral and other marine aquarium livestock should be supplied by farms or captive breeders, rather than removed from the natural reefs. The additional uses for coral as a source of potential leading edge medical discoveries are an additional  opportunity for the Company's coral farming activity. We believe that the world of bio-research is a natural continuation of our core coral propagation business. Accordingly on October 23, 2011, the Company formed a subsidiary, Rainbow Biosciences, LLC to look into the opportunities within the bioscience market. Rainbow Biosciences, LLC will continue to research opportunities into the bioscience markets.
	The Company was incorporated on August 13, 2010 with its corporate headquarters located in Nokomis, Florida. The Company's fiscal year end is March 31.

GOING_CONCERN

GOING CONCERN	9 Months Ended
	Dec. 31, 2013
GOING CONCERN [Abstract]	'
GOING CONCERN	'
	NOTE 2. GOING CONCERN
	The Company incurred a net loss of $683,935 during the nine months ended December 31, 2013 and had negative cash flow from operating activities of $392,094 for the same period. The Company does not expect to generate positive net income or generate positive cash flow from operating activities in the next twelve months. The accompanying financial statements have been prepared assuming that the Company will continue as a going concern. These matters, among others, raise substantial doubt about the ability of the Company to continue as a going concern. These financial statements do not include any adjustments to the amounts and classification of assets and liabilities that may be necessary should the Company be unable to continue as a going concern.
	We will need to obtain loans or other financing in order to fund operating shortfalls and do not foresee a change in this situation in the immediate future. There can be no assurance that we will be able to obtain these loans or that they will be available to us on terms that are acceptable to the Company. We will not be able to continue operations without them. We are pursuing alternate sources of financing, but there is no assurance that additional capital will be available to the Company when needed or on acceptable terms.

SUMMARY_OF_SIGNIFICANT_ACCOUNT

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	9 Months Ended
	Dec. 31, 2013
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES [Abstract]	'
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	'
	NOTE 3. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
	Interim Financial Statements
	The accompanying unaudited consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States of America for interim financial information and with the instructions to Form 10-Q and Regulation S-X. Accordingly, these condensed financial statements do not include all of the information and footnotes required by generally accepted accounting principles for complete financial statements. In the opinion of management, all adjustments considered necessary for a fair presentation have been included and such adjustments are of a normal recurring nature. These financial statements should be read in conjunction with the financial statements for the year ended March 31, 2013 and notes thereto and other pertinent information contained in our Form 10-K the Company has filed with the Securities and Exchange Commission (the "SEC").
	The results of operations for the nine months period ended December 31, 2013 are not necessarily indicative of the results for the full fiscal year ending March 31, 2014.
	Basis of Presentation
	The financial statements and related disclosures have been prepared pursuant to the rules and regulations of the SEC.  The financial statements have been prepared using the accrual basis of accounting in accordance with Generally Accepted Accounting Principles ("GAAP") of the United States (See Note 2 regarding the assumption that the Company is a "going concern").
	Principles of Consolidation
	The consolidated financial statements include the accounts of Rainbow Coral Corp. and its wholly-owned subsidiaries, Rainbow Biosciences, LLC and Father Fish Aquarium, Inc.  All material intercompany accounts and transactions are eliminated in consolidation. The year end for the Company and its subsidiaries is March 31.
	Use of Estimates
	The preparation of financial statements in conformity with GAAP in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates.
	Cash and Cash Equivalents
	For the purpose of the financial statements, cash equivalents include all highly liquid investments with maturity of three months or less. Cash and cash equivalents were $107,848 and $84,592 at December 31, 2013 and March 31, 2013, respectively.
	Inventory
	The Company follows ASC 330, Inventory. Inventory represents live coral and other items valued at the lower of cost or net realizable value determined using the weighted average cost method, and with market defined as the lower of replacement cost or realizable value. The cost of inventory includes all costs to purchase, costs of conversion and other costs incurred in bringing the inventory to its present location and condition. The cost of conversion of living coral inventory includes the cost of maintenance through the balance sheet date. Inventory is reduced for the estimated losses due to obsolescence.
	Goodwill
	Goodwill represents the excess of purchase price and related costs over the value assigned to the net tangible and intangible assets of businesses acquired. We evaluate goodwill for impairment utilizing undiscounted projected cash flows in accordance with the Financial Accounting Standards Board ("FASB") Accounting Standards Codification ("ASC") Topic 350, "Intangibles - Goodwill and Other" ("ASC Topic 350"). The Company has determined that there was no impairment of goodwill during the nine months ended December 31, 2013.
	Deferred Income Taxes and Valuation Allowance
	The Company accounts for income taxes under ASC 740 Income Taxes.  Under the asset and liability method of ASC 740, deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statements carrying amounts of existing assets and liabilities and their respective tax bases.  Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled.  The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period the enactment occurs.  A valuation allowance is provided for certain deferred tax assets if it is more likely than not that the Company will not realize tax assets through future operations.  No deferred tax assets or liabilities were recognized as of December 31, 2013 or March 31, 2013.
	Revenue and Cost Recognition
	In accordance with ASC 605, Revenue Recognition, the Company recognizes revenue when persuasive evidence of an arrangement exists, product delivery has occurred or the services have been rendered, the price is fixed or determinable and collectability is reasonably assured. Revenue is generated from the sales of live coral and other related products in a retail setting. Revenue is recognized net of sales returns and allowances.
	Share-based Expense
	The Company accounts for stock-based compensation issued to non-employees and consultants in accordance with the provisions of ASC 505-50, Equity - Based Payments to Non-Employees.  Measurement of share-based payment transactions with non-employees is based on the fair value of whichever is more reliably measurable:  (a) the goods or services received; or (b) the equity instruments issued.  The fair value of the share-based payment transaction is determined at the earlier of performance commitment date or performance completion date.
	Share-based expense for the nine months ended December 31, 2013 and 2012 was $0 and $542,000, respectively.
	Earnings (Loss) per Common Share
	The Company computes basic and diluted earnings per common share amounts in accordance with ASC Topic 260, Earnings per Share. Basic earnings per share is computed by dividing net income (loss) available to common shareholders by the weighted average number of common shares outstanding during the reporting period. Diluted earnings per share reflects the potential dilution that could occur if stock options and other commitments to issue common stock were exercised or equity awards vest resulting in the issuance of common stock that could share in the earnings of the Company.  For the nine months ended December 31, 2013 and 2012, the effect of common stock equivalents has been excluded from the calculation of diluted earnings per share as their effect would be anti-dilutive.
	Financial Instruments
	The Company's balance sheet includes certain financial instruments. The carrying amounts of current assets and current liabilities approximate their fair value because of the relatively short period of time between the origination of these instruments and their expected realization.
	ASC 820, Fair Value Measurements and Disclosures, defines fair value as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. ASC 820 also establishes a fair value hierarchy that distinguishes between (1) market participant assumptions developed based on market data obtained from independent sources (observable inputs) and (2) an entity's own assumptions about market participant assumptions developed based on the best information available in the circumstances (unobservable inputs). The fair value hierarchy consists of three broad levels, which gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1) and the lowest priority to unobservable inputs (Level 3). The three levels of the fair value hierarchy are described below:
	·	Level 1 - Unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities
	·	Level 2 - Inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly, including quoted prices for similar assets or liabilities in active markets; quoted prices for identical or similar assets or liabilities in markets that are not active; inputs other than quoted prices that are observable for the asset or liability (e.g., interest rates); and inputs that are derived principally from or corroborated by observable market data by correlation or other means.
	·	Level 3 - Inputs that are both significant to the fair value measurement and unobservable.
	Fair value estimates discussed herein are based upon certain market assumptions and pertinent information available to management as of December 31, 2013. The respective carrying value of certain on-balance-sheet financial instruments approximated their fair values due to the short-term nature of these instruments.
	Commitments and Contingencies
	The Company follows ASC 450-20, Loss Contingencies, to report accounting for contingencies.  Liabilities for loss contingencies arising from claims, assessments, litigation, fines and penalties and other sources are recorded when it is probable that a liability has been incurred and the amount of the assessment can be reasonably estimated.  There were no known commitments or contingencies as of December 31, 2013 and March 31, 2013.
	Recently Issued Accounting Pronouncements
	Recently issued or adopted accounting pronouncements are not expected to, or did not have, a material impact on our financial position, results of operations or cash flows.
	Reclassifications
	Certain reclassifications have been made to the prior period financial statements to conform to the current period presentation.

RELATED_PARTY

RELATED PARTY	9 Months Ended
	Dec. 31, 2013
RELATED PARTY [Abstract]	'
RELATED PARTY	'
	NOTE 4. RELATED PARTY
	During the nine months ending December 31, 2013, the Company received advances of $36,756 from the President of our Father Fish subsidiary for purposes of funding operations, of which $1,686 of the advances were repaid during the nine months ended December 31, 2013.

CONVERTIBLE_NOTES_PAYABLE_AND_

CONVERTIBLE NOTES PAYABLE AND ADVANCES	9 Months Ended
	Dec. 31, 2013
CONVERTIBLE NOTES PAYABLE AND ADVANCES [Abstract]	'
CONVERTIBLE NOTES PAYABLE AND ADVANCES	'
	NOTE 5. CONVERTIBLE NOTES PAYABLE AND ADVANCES
	Convertible notes payable consist of the following as of December 31, 2013:
		Amount
	Convertible note payable effective June 30, 2013, due June 30, 2015, bearing interest at 10% per year, convertible into common stock at a rate of $0.04 per share		192,600
	Convertible note payable effective September 30, 2013, due September 30, 2015, bearing interest at 10% per year, convertible into common stock at a rate of $0.04 per share		224,085
	Total convertible notes payable		416,685
	Less: discounts on convertible notes payable		(398,661	)
	Convertible notes payable	$	18,024
	All principal along with accrued interest is payable on the maturity date. The notes are convertible into common stock at the option of the holder. The holder of the notes cannot convert the notes into shares of common stock if that conversion would result in the holder owning more than 4.9% of the outstanding stock of the Company.
	During the nine months ended December 31, 2013, the Company entered into convertible promissory notes with Vista View Ventures, Inc. which refinanced non-interest bearing advances. The convertible notes have the following terms:
	Note Date	Maturity Date		Interest Rate		Conversion Rate		Loan Amount
	30-Jun-13	30-Jun-15		10%		$0.04 per share		$192,600
	30-Sep-13	30-Sep-15		10%		$0.04 per share		$224,085
	All principal along with accrued interest is payable on the maturity date.
	The Company evaluated the terms of the notes in accordance with ASC Topic No. 815 - 40, Derivatives and Hedging - Contracts in Entity's Own Stock and determined that the underlying common stock is indexed to the Company's common stock. The Company determined that the conversion features did not meet the definition of a liability and therefore did not bifurcate the conversion feature and account for it as a separate derivative liability. The Company evaluated the conversion features for a beneficial conversion feature. The effective conversion price was compared to the market price on the date of the notes and was deemed to be less than the market value of underlying common stock at the inception of the note. Therefore, the Company recognized a discount for the beneficial conversion feature in the amount of $416,685, in aggregate, on the date the notes were signed. The beneficial conversion feature was recorded as an increase in additional paid-in capital and a discount to the convertible notes payable. The discount to the convertible notes payable will be amortized to interest expense over the life of the note.
	During the nine months ended December 31, 2013, the holders of the convertible note payable dated March 31, 2012 elected to convert principal and accrued interest in the amounts shown below into shares of common stock at a rate of $0.05 per share. On the conversion date, the unamortized discount related to the principal amount converted was immediately amortized to interest expense. No gain or loss was recognized on the conversions as they occurred within the terms of the agreement which provided for conversion at $0.05 per share.
	Date	Amount Converted			Number of		Unamortized
					Shares Issued		Discount
	8-May-13	$	11,449		228,983		$	3,338
	During the nine months ended December 31, 2013, the holders of the convertible note payable dated June 30, 2012 elected to convert principal and accrued interest in the amounts shown below into shares of common stock at a rate of $0.04 per share. On the conversion date, the unamortized discount related to the principal amount converted was immediately amortized to interest expense. No gain or loss was recognized on the conversions as they occurred within the terms of the agreement which provided for conversion at $0.04 per share.
	Date	Amount Converted			Number of		Unamortized
					Shares Issued		Discount
	10-Apr-13	$	25,000		625,000		$	20,000
	11-Apr-13		50,000		1,250,000			40,000
	10-May-13		6,977		174,428			611
	Total	$	81,977		2,049,428		$	60,611
	During the nine months ended December 31, 2013, the holders of the convertible note payable dated January 1, 2013 elected to convert principal and accrued interest in the amounts shown below into shares of common stock at a rate of $0.05 per share. On the conversion date, the unamortized discount related to the principal amount converted was immediately amortized to interest expense. No gain or loss was recognized on the conversions as they occurred within the terms of the agreement which provided for conversion at $0.05 per share.
	Date	Amount Converted			Number of		Unamortized
					Shares Issued		Discount
	9-Jul-13	$	36,687		733,738		$	27,820
	15-Jul-13		70,000		1,400,000			46,673
	Total	$	106,687		2,133,738		$	74,493
	During the nine months ended December 31, 2013, the holders of the convertible note payable dated March 31, 2013 elected to convert principal and accrued interest in the amounts shown below into shares of common stock at a rate of $0.05 per share. On the conversion date, the unamortized discount related to the principal amount converted was immediately amortized to interest expense. No gain or loss was recognized on the conversions as they occurred within the terms of the agreement which provided for conversion at $0.05 per share.
	Date	Amount Converted			Number of		Unamortized
					Shares Issued		Discount
	15-Oct-13	$	25,000		500,000		$	17,785
	25-Oct-13		20,996		419,923			13,971
	Total	$	45,996		919,923		$	31,756
	During the nine months ended December 31, 2013 and 2012, the Company received non-interest bearing advances of $330,280 and $219,108, respectively, from Vista View Ventures Inc.  The funds were advanced to the Company through an intermediary agent which also provides certain legal, accounting and support services to the Company.

LONGTERM_NOTE_PAYABLE

LONG-TERM NOTE PAYABLE	9 Months Ended
	Dec. 31, 2013
LONG-TERM NOTE PAYABLE [Abstract]	'
LONG-TERM NOTE PAYABLE	'
	NOTE 6. LONG-TERM NOTE PAYABLE
	On December 30, 2013 the Company entered into a promissory note of $50,000 with a third party bearing interest at 5%.  Under the terms of the note payable, the Company will begin making monthly payments on the note payable on January 1, 2015 based on a 4 year payout.

STOCKHOLDERS_EQUITY

STOCKHOLDERS' EQUITY	9 Months Ended
	Dec. 31, 2013
STOCKHOLDERS' EQUITY [Abstract]	'
STOCKHOLDERS' EQUITY	'
	NOTE 7. STOCKHOLDERS' EQUITY
	During the nine months ended December 31, 2013, the Company issued stock to third parties for the conversion of notes payable. No gain or loss was recognized on the conversions as they occurred within the terms of the respective notes. The stock issued is as follows:
	Date	Number of	Value of
		Shares Issued	Shares
	10-Apr-13	625,000	$	25,000
	11-Apr-13	1,250,000		50,000
	8-May-13	228,983		11,449
	10-May-13	174,428		6,977
	9-Jul-13	733,738		36,687
	15-Jul-13	1,400,000		70,000
	15-Oct-13	500,000		25,000
	25-Oct-13	419,923		20,996
	Total	5,332,072	$	246,109

SUBSEQUENT_EVENTS

SUBSEQUENT EVENTS	9 Months Ended
	Dec. 31, 2013
SUBSEQUENT EVENTS [Abstract]	'
SUBSEQUENT EVENTS	'
	NOTE 8. SUBSEQUENT EVENTS
	Management has evaluated subsequent events through the date these consolidated financial statements were issued. Based on our evaluation, only the events described below require disclosure.
	On January 1, 2014, the holder of the convertible promissory note in the original amount of $192,600 elected to convert principal and interest in the amount of $32,000 into 800,000 shares of common stock.  As a result of this conversion, unamortized discount related to the converted principal in the amount of $20,975 was immediately amortized to interest expense.
	On January 27, 2014, the holder of the convertible promissory note in the original amount of $192,600 elected to convert principal and interest in the amount of $32,000 into 800,000 shares of common stock.  As a result of this conversion, unamortized discount related to the converted principal in the amount of $29,346 was immediately amortized to interest expense.
	On February 7, 2014, the holder of the convertible promissory note in the original amount of $192,600 elected to convert principal and interest in the amount of $32,000 into 800,000 shares of common stock.  As a result of this conversion, unamortized discount related to the converted principal in the amount of $29,313 was immediately amortized to interest expense.

SUMMARY_OF_SIGNIFICANT_ACCOUNT1

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policy)	9 Months Ended
	Dec. 31, 2013
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES [Abstract]	'
Interim Financial Statements	'
	Interim Financial Statements
	The accompanying unaudited consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States of America for interim financial information and with the instructions to Form 10-Q and Regulation S-X. Accordingly, these condensed financial statements do not include all of the information and footnotes required by generally accepted accounting principles for complete financial statements. In the opinion of management, all adjustments considered necessary for a fair presentation have been included and such adjustments are of a normal recurring nature. These financial statements should be read in conjunction with the financial statements for the year ended March 31, 2013 and notes thereto and other pertinent information contained in our Form 10-K the Company has filed with the Securities and Exchange Commission (the "SEC").
	The results of operations for the nine months period ended December 31, 2013 are not necessarily indicative of the results for the full fiscal year ending March 31, 2014.
Basis of Presentation	'
	Basis of Presentation
	The financial statements and related disclosures have been prepared pursuant to the rules and regulations of the SEC.  The financial statements have been prepared using the accrual basis of accounting in accordance with Generally Accepted Accounting Principles ("GAAP") of the United States (See Note 2 regarding the assumption that the Company is a "going concern").
Principles of Consolidation	'
	Principles of Consolidation
	The consolidated financial statements include the accounts of Rainbow Coral Corp. and its wholly-owned subsidiaries, Rainbow Biosciences, LLC and Father Fish Aquarium, Inc.  All material intercompany accounts and transactions are eliminated in consolidation. The year end for the Company and its subsidiaries is March 31.
Use of Estimates	'
	Use of Estimates
	The preparation of financial statements in conformity with GAAP in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates.
Cash and Cash Equivalents	'
	Cash and Cash Equivalents
	For the purpose of the financial statements, cash equivalents include all highly liquid investments with maturity of three months or less. Cash and cash equivalents were $107,848 and $84,592 at December 31, 2013 and March 31, 2013, respectively.
Inventory	'
	Inventory
	The Company follows ASC 330, Inventory. Inventory represents live coral and other items valued at the lower of cost or net realizable value determined using the weighted average cost method, and with market defined as the lower of replacement cost or realizable value. The cost of inventory includes all costs to purchase, costs of conversion and other costs incurred in bringing the inventory to its present location and condition. The cost of conversion of living coral inventory includes the cost of maintenance through the balance sheet date. Inventory is reduced for the estimated losses due to obsolescence.
Goodwill	'
	Goodwill
	Goodwill represents the excess of purchase price and related costs over the value assigned to the net tangible and intangible assets of businesses acquired. We evaluate goodwill for impairment utilizing undiscounted projected cash flows in accordance with the Financial Accounting Standards Board ("FASB") Accounting Standards Codification ("ASC") Topic 350, "Intangibles - Goodwill and Other" ("ASC Topic 350"). The Company has determined that there was no impairment of goodwill during the nine months ended December 31, 2013.
Deferred Income Taxes and Valuation Allowance	'
	Deferred Income Taxes and Valuation Allowance
	The Company accounts for income taxes under ASC 740 Income Taxes.  Under the asset and liability method of ASC 740, deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statements carrying amounts of existing assets and liabilities and their respective tax bases.  Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled.  The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period the enactment occurs.  A valuation allowance is provided for certain deferred tax assets if it is more likely than not that the Company will not realize tax assets through future operations.  No deferred tax assets or liabilities were recognized as of December 31, 2013 or March 31, 2013.
Revenue and Cost Recognition	'
	Revenue and Cost Recognition
	In accordance with ASC 605, Revenue Recognition, the Company recognizes revenue when persuasive evidence of an arrangement exists, product delivery has occurred or the services have been rendered, the price is fixed or determinable and collectability is reasonably assured. Revenue is generated from the sales of live coral and other related products in a retail setting. Revenue is recognized net of sales returns and allowances.
Share-based Expense	'
	Share-based Expense
	The Company accounts for stock-based compensation issued to non-employees and consultants in accordance with the provisions of ASC 505-50, Equity - Based Payments to Non-Employees.  Measurement of share-based payment transactions with non-employees is based on the fair value of whichever is more reliably measurable:  (a) the goods or services received; or (b) the equity instruments issued.  The fair value of the share-based payment transaction is determined at the earlier of performance commitment date or performance completion date.
	Share-based expense for the nine months ended December 31, 2013 and 2012 was $0 and $542,000, respectively.
Earnings (Loss) per Common Share	'
	Earnings (Loss) per Common Share
	The Company computes basic and diluted earnings per common share amounts in accordance with ASC Topic 260, Earnings per Share. Basic earnings per share is computed by dividing net income (loss) available to common shareholders by the weighted average number of common shares outstanding during the reporting period. Diluted earnings per share reflects the potential dilution that could occur if stock options and other commitments to issue common stock were exercised or equity awards vest resulting in the issuance of common stock that could share in the earnings of the Company.  For the nine months ended December 31, 2013 and 2012, the effect of common stock equivalents has been excluded from the calculation of diluted earnings per share as their effect would be anti-dilutive.
Financial Instruments	'
	Financial Instruments
	The Company's balance sheet includes certain financial instruments. The carrying amounts of current assets and current liabilities approximate their fair value because of the relatively short period of time between the origination of these instruments and their expected realization.
	ASC 820, Fair Value Measurements and Disclosures, defines fair value as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. ASC 820 also establishes a fair value hierarchy that distinguishes between (1) market participant assumptions developed based on market data obtained from independent sources (observable inputs) and (2) an entity's own assumptions about market participant assumptions developed based on the best information available in the circumstances (unobservable inputs). The fair value hierarchy consists of three broad levels, which gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1) and the lowest priority to unobservable inputs (Level 3). The three levels of the fair value hierarchy are described below:
	·	Level 1 - Unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities
	·	Level 2 - Inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly, including quoted prices for similar assets or liabilities in active markets; quoted prices for identical or similar assets or liabilities in markets that are not active; inputs other than quoted prices that are observable for the asset or liability (e.g., interest rates); and inputs that are derived principally from or corroborated by observable market data by correlation or other means.
	·	Level 3 - Inputs that are both significant to the fair value measurement and unobservable.
	Fair value estimates discussed herein are based upon certain market assumptions and pertinent information available to management as of December 31, 2013. The respective carrying value of certain on-balance-sheet financial instruments approximated their fair values due to the short-term nature of these instruments.
Commitments and Contingencies	'
	Commitments and Contingencies
	The Company follows ASC 450-20, Loss Contingencies, to report accounting for contingencies.  Liabilities for loss contingencies arising from claims, assessments, litigation, fines and penalties and other sources are recorded when it is probable that a liability has been incurred and the amount of the assessment can be reasonably estimated.  There were no known commitments or contingencies as of December 31, 2013 and March 31, 2013.
Recently Issued Accounting Pronouncements	'
	Recently Issued Accounting Pronouncements
	Recently issued or adopted accounting pronouncements are not expected to, or did not have, a material impact on our financial position, results of operations or cash flows.
Reclassifications	'
	Reclassifications
	Certain reclassifications have been made to the prior period financial statements to conform to the current period presentation.

CONVERTIBLE_NOTES_PAYABLE_AND_1

CONVERTIBLE NOTES PAYABLE AND ADVANCES (Tables)	9 Months Ended
	Dec. 31, 2013
Debt Instrument [Line Items]	'
Schedule of Convertible Notes Payable	'
	Convertible notes payable consist of the following as of December 31, 2013:
		Amount
	Convertible note payable effective June 30, 2013, due June 30, 2015, bearing interest at 10% per year, convertible into common stock at a rate of $0.04 per share		192,600
	Convertible note payable effective September 30, 2013, due September 30, 2015, bearing interest at 10% per year, convertible into common stock at a rate of $0.04 per share		224,085
	Total convertible notes payable		416,685
	Less: discounts on convertible notes payable		(398,661	)
	Convertible notes payable	$	18,024
Schedule of Terms of Convertible Promissory Notes	'
	The convertible notes have the following terms:
	Note Date	Maturity Date		Interest Rate		Conversion Rate		Loan Amount
	30-Jun-13	30-Jun-15		10%		$0.04 per share		$192,600
	30-Sep-13	30-Sep-15		10%		$0.04 per share		$224,085
Convertible Note Payable Dated March 31, 2012 [Member]	'
Debt Instrument [Line Items]	'
Schedule of Convertible Notes Having Been Converted	'
	Date	Amount Converted			Number of		Unamortized
					Shares Issued		Discount
	8-May-13	$	11,449		228,983		$	3,338
Convertible Note Payable Dated June 30, 2012 [Member]	'
Debt Instrument [Line Items]	'
Schedule of Convertible Notes Having Been Converted	'
	Date	Amount Converted			Number of		Unamortized
					Shares Issued		Discount
	10-Apr-13	$	25,000		625,000		$	20,000
	11-Apr-13		50,000		1,250,000			40,000
	10-May-13		6,977		174,428			611
	Total	$	81,977		2,049,428		$	60,611
Convertible Note Payable Dated January 1, 2013 [Member]	'
Debt Instrument [Line Items]	'
Schedule of Convertible Notes Having Been Converted	'
	Date	Amount Converted			Number of		Unamortized
					Shares Issued		Discount
	9-Jul-13	$	36,687		733,738		$	27,820
	15-Jul-13		70,000		1,400,000			46,673
	Total	$	106,687		2,133,738		$	74,493
Convertible Note Payable Dated March 31, 2013 [Member]	'
Debt Instrument [Line Items]	'
Schedule of Convertible Notes Having Been Converted	'
	Date	Amount Converted			Number of		Unamortized
					Shares Issued		Discount
	15-Oct-13	$	25,000		500,000		$	17,785
	25-Oct-13		20,996		419,923			13,971
	Total	$	45,996		919,923		$	31,756

STOCKHOLDERS_EQUITY_Tables

STOCKHOLDERS' EQUITY (Tables)	9 Months Ended
	Dec. 31, 2013
STOCKHOLDERS' EQUITY [Abstract]	'
Schedule of Stock Issued to Third Parties for Conversion of Notes Payable	'
	The stock issued is as follows:
	Date	Number of	Value of
		Shares Issued	Shares
	10-Apr-13	625,000	$	25,000
	11-Apr-13	1,250,000		50,000
	8-May-13	228,983		11,449
	10-May-13	174,428		6,977
	9-Jul-13	733,738		36,687
	15-Jul-13	1,400,000		70,000
	15-Oct-13	500,000		25,000
	25-Oct-13	419,923		20,996
	Total	5,332,072	$	246,109

GOING_CONCERN_Details

GOING CONCERN (Details) (USD $)	3 Months Ended		9 Months Ended
	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2013	Dec. 31, 2012
GOING CONCERN [Abstract]	'	'	'	'
Net loss	$215,989	$182,350	$683,935	$995,080
Net cash used in operating activities	'	'	$392,094	$245,070

SUMMARY_OF_SIGNIFICANT_ACCOUNT2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) (USD $)	9 Months Ended
	Dec. 31, 2013	Dec. 31, 2012	Mar. 31, 2013	Mar. 31, 2012
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES [Abstract]	'	'	'	'
Cash and cash equivalents	$107,848	$17,075	$84,592	$20,219
Share-based expense	'	$542,000	'	'

RELATED_PARTY_Details

RELATED PARTY (Details) (USD $)	9 Months Ended
	Dec. 31, 2013	Dec. 31, 2012
RELATED PARTY [Abstract]	'	'
Proceeds from related party advances	$36,756	$43,336
Repayments of related party advances	$1,686	$19,790

CONVERTIBLE_NOTES_PAYABLE_AND_2

CONVERTIBLE NOTES PAYABLE AND ADVANCES (Narrative) (Details) (USD $)	9 Months Ended
	Dec. 31, 2013	Dec. 31, 2012
Debt Conversion [Line Items]	'	'
Beneficial conversion on convertible note payable	$416,685	$300,526
Proceeds from advances	$330,280	$219,108
Convertible Note Payable Dated March 31, 2012 [Member]	'	'
Debt Conversion [Line Items]	'	'
Debt instrument, conversion price per share	$0.05	'
Convertible Note Payable Dated June 30, 2012 [Member]	'	'
Debt Conversion [Line Items]	'	'
Debt instrument, conversion price per share	$0.04	'
Convertible Note Payable Dated January 1, 2013 [Member]	'	'
Debt Conversion [Line Items]	'	'
Debt instrument, conversion price per share	$0.05	'
Convertible Note Payable Dated March 31, 2013 [Member]	'	'
Debt Conversion [Line Items]	'	'
Debt instrument, conversion price per share	$0.05	'

CONVERTIBLE_NOTES_PAYABLE_AND_3

CONVERTIBLE NOTES PAYABLE AND ADVANCES (Schedule of Convertible Notes Payable) (Details) (USD $)	Dec. 31, 2013	Mar. 31, 2013	Dec. 31, 2013	Dec. 31, 2013
			Convertible note payable effective June 30, 2013 due June 30, 2015 [Member]	Convertible note payable effective September 30, 2013, due September 30, 2015 [Member]
Debt Instrument [Line Items]	'	'	'	'
Total convertible notes payable	$416,685	'	$192,600	$224,085
Less: Discounts on convertible notes payable	-398,661	'	'	'
Convertible notes payable	18,024	24,576	'	'
Debt instrument, effective date	'	'	30-Jun-13	30-Sep-13
Debt instrument, maturity date	'	'	30-Jun-15	30-Sep-15
Debt instrument, interest rate	'	'	10.00%	10.00%
Debt instrument, conversion price per share	'	'	$0.04	$0.04
Debt instrument, face amount	'	'	$192,600	$224,085

CONVERTIBLE_NOTES_PAYABLE_AND_4

CONVERTIBLE NOTES PAYABLE AND ADVANCES (Schedule of Convertible Notes Payable Having Been Converted) (Details) (USD $)	9 Months Ended
	Dec. 31, 2013
Convertible Note Payable Dated March 31, 2012 [Member] | May 8, 2013 [Member]	'
Debt Conversion [Line Items]	'
Debt instrument, amount converted	$11,449
Number of Shares Issued	228,983
Unamortized Discount	3,338
Convertible Note Payable Dated June 30, 2012 [Member]	'
Debt Conversion [Line Items]	'
Debt instrument, amount converted	81,977
Number of Shares Issued	2,049,428
Unamortized Discount	60,611
Convertible Note Payable Dated June 30, 2012 [Member] | April 10, 2013 [Member]	'
Debt Conversion [Line Items]	'
Debt instrument, amount converted	25,000
Number of Shares Issued	625,000
Unamortized Discount	20,000
Convertible Note Payable Dated June 30, 2012 [Member] | April 11, 2013 [Member]	'
Debt Conversion [Line Items]	'
Debt instrument, amount converted	50,000
Number of Shares Issued	1,250,000
Unamortized Discount	40,000
Convertible Note Payable Dated June 30, 2012 [Member] | May 10, 2013 [Member]	'
Debt Conversion [Line Items]	'
Debt instrument, amount converted	6,977
Number of Shares Issued	174,428
Unamortized Discount	611
Convertible Note Payable Dated January 1, 2013 [Member]	'
Debt Conversion [Line Items]	'
Debt instrument, amount converted	106,687
Number of Shares Issued	2,133,738
Unamortized Discount	74,493
Convertible Note Payable Dated January 1, 2013 [Member] | July 9, 2013 [Member]	'
Debt Conversion [Line Items]	'
Debt instrument, amount converted	36,687
Number of Shares Issued	733,738
Unamortized Discount	27,820
Convertible Note Payable Dated January 1, 2013 [Member] | July 15, 2013 [Member]	'
Debt Conversion [Line Items]	'
Debt instrument, amount converted	70,000
Number of Shares Issued	1,400,000
Unamortized Discount	46,673
Convertible Note Payable Dated March 31, 2013 [Member]	'
Debt Conversion [Line Items]	'
Debt instrument, amount converted	45,996
Number of Shares Issued	919,923
Unamortized Discount	31,756
Convertible Note Payable Dated March 31, 2013 [Member] | October 15, 2013 [Member]	'
Debt Conversion [Line Items]	'
Debt instrument, amount converted	25,000
Number of Shares Issued	500,000
Unamortized Discount	17,785
Convertible Note Payable Dated March 31, 2013 [Member] | October 25, 2013 [Member]	'
Debt Conversion [Line Items]	'
Debt instrument, amount converted	20,996
Number of Shares Issued	419,923
Unamortized Discount	$13,971

LONGTERM_NOTE_PAYABLE_Narrativ

LONG-TERM NOTE PAYABLE (Narrative) (Details) (USD $)	9 Months Ended
	Dec. 31, 2013
LONG-TERM NOTE PAYABLE [Abstract]	'
Long-term promissory note	$50,000
Interest on long-term promissory note	5.00%
Installment payments start date	1-Jan-15
Initial term of loan	'4 years

STOCKHOLDERS_EQUITY_Details

STOCKHOLDERS' EQUITY (Details) (USD $)	9 Months Ended
	Dec. 31, 2013
Stockholders Equity Note Disclosure [Line Items]	'
Number of Shares Issued	5,332,072
Value of Shares	$246,109
April 10, 2013 [Member]	'
Stockholders Equity Note Disclosure [Line Items]	'
Number of Shares Issued	625,000
Value of Shares	25,000
April 11, 2013 [Member]	'
Stockholders Equity Note Disclosure [Line Items]	'
Number of Shares Issued	1,250,000
Value of Shares	50,000
May 8, 2013 [Member]	'
Stockholders Equity Note Disclosure [Line Items]	'
Number of Shares Issued	228,983
Value of Shares	11,449
May 10, 2013 [Member]	'
Stockholders Equity Note Disclosure [Line Items]	'
Number of Shares Issued	174,428
Value of Shares	6,977
July 9, 2013 [Member]	'
Stockholders Equity Note Disclosure [Line Items]	'
Number of Shares Issued	733,738
Value of Shares	36,687
July 15, 2013 [Member]	'
Stockholders Equity Note Disclosure [Line Items]	'
Number of Shares Issued	1,400,000
Value of Shares	70,000
October 15, 2013 [Member]	'
Stockholders Equity Note Disclosure [Line Items]	'
Number of Shares Issued	500,000
Value of Shares	25,000
October 25, 2013 [Member]	'
Stockholders Equity Note Disclosure [Line Items]	'
Number of Shares Issued	419,923
Value of Shares	$20,996

SUBSEQUENT_EVENTS_Details

SUBSEQUENT EVENTS (Details) (USD $)	9 Months Ended		1 Months Ended		1 Months Ended		1 Months Ended
	Dec. 31, 2013	Dec. 31, 2012	Jan. 31, 2014	Jan. 01, 2014	Jan. 31, 2014	Jan. 27, 2014	Feb. 28, 2014	Feb. 07, 2014
			Subsequent Event [Member]	Subsequent Event [Member]	Subsequent Event [Member]	Subsequent Event [Member]	Subsequent Event [Member]	Subsequent Event [Member]
			Convertible Promissory Note One [Member]	Convertible Promissory Note One [Member]	Convertible Promissory Note Two [Member]	Convertible Promissory Note Two [Member]	Convertible Promissory Note Three [Member]	Convertible Promissory Note Three [Member]
Subsequent Event [Line Items]	'	'	'	'	'	'	'	'
Debt instrument, face amount	'	'	'	$192,600	'	$192,600	'	$192,600
Amount of note principal converted	'	'	32,000	'	32,000	'	32,000	'
Debt conversion, shares issued	'	'	800,000	'	800,000	'	800,000	'
Amortization of discount on convertible notes payable	$215,122	$191,747	$20,975	'	$29,346	'	$29,313	'